Falcon Initiates Exploration on Gold, Silver and Copper Concessions, La Rioja, Argentina

HIGHLIGHTS:

  • Falcon holds large under-explored significant land position;
  • Mapping of numerous historical and newly discovered high-grade gold occurrences;
  • Twenty-four samples sent for multi-element analyses and assay; and,
  • Visible gold noted in several sample sites.

Vancouver, British Columbia–(Newsfile Corp. – December 13, 2018) – Falcon Gold Corp. (TSXV: FG) (“Falcon” or the “Company”) reports it has completed its 2018 exploration program on the Esperanza Resources S.A. (“ERSA”) mineral concessions located in La Rioja Province, Argentina. The work program has focused on three of its 7 concessions; ERSA VIII, IX and X. The purpose of the work was two-fold – to advance our knowledge of the historically identified gold, silver and copper zones and test newly discovered mineralization areas.

The 2018 Program

The current work program on the Esperanza VIII, IX and X concessions was intended:

  1. To carry out a geological survey at a scale of 1: 20,000;
  2. To perform surface sampling of known and discovered gold zones; and,
  3. To map the terrain, including any road accesses for planning of future campaigns in the area.

The program produced a total of twenty-four samples that have been sent to the SGS Argentina S.A. in the city of San Juan for multi-element analyses and fire assays.

The ERSA Property

The ERSA Property is comprised of seven (7) mineral concessions covering an aggregate area of 20,461 hectares (“ha”) within the renowned Sierra de Las Minas District, which is reported to host several past producing gold and silver mines. The Property is located about 50 kilometres (“km”) south-southeast of the town of Chepes. The city of San Juan is about 250 km by paved highway to the west-southwest.

The first discovered gold mineralization within the District reportedly occurs within the ERSA IX concession in or about 1865 and is referred to as the “Callanas occurrences”. Limited mining has been conducted on gold, silver and copper zones within the Callanas areas.

Stephen Wilkinson, Falcon’s CEO commented, “This initial round of exploration has surpassed our expectations with the reporting of visible gold at several sites. The geological team has demonstrated that diligent field work combined with the application of good scientific methodology can be highly productive.”

Qualified Person

Dr. Daniel Rubiolo, P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release.

About Falcon Gold Corp.

Falcon is a Canadian based mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Its Ontario, Canada projects include: the Central Canada cobalt, copper, gold project; the Coomer Lake vanadium and titanium project; the Wabunk Bay cobalt, copper and nickel project, and the Burton gold property. Falcon also has an agreement to acquire 20,461 hectares within the Sierra de Las Minas District, Argentina which has hosted several past producing gold, copper and silver mines. The Company has 38,020,184 common shares outstanding and is listed on the TSX Venture exchange with the trading symbol: “FG”. For information on the Company, please visit our website: www.falcongold.ca.

CONTACT INFORMATION:

Falcon Gold Corp.

David Tafel
Chairman

Stephen Wilkinson
CEO & Director

Telephone: +1 604-683-1991
Email: info@falcongold.ca

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Advertisements

RETRANSMISSION: Ethos Reports Re-assay of 33 trench samples averages 13% higher V2O5 grades

Vancouver, British Columbia–(Newsfile Corp. – December 13, 2018) – Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (“Ethos” or the “Company“) has now received lithium metaborate fusion assay results for 33 check assays from the 2018 trench sampling program from its Pine Pass vanadium project. The lithium metaborate fusion assay allows for more complete digestion of mineral species versus the ICP-MS with 4 acid-digestion method that has been used to assay all samples processed to date. For these 33 check samples, the fusion results were consistently higher versus the ICP-MS with 4 acid-digestion method, with the fusion assays returning approximately 13% higher V2O5 grades. To illustrate, if the fusion re-assay of a sample with an original 0.45% V2O5 ICP-MS assay returned this average increase, the fusion assay result would be 0.45% x 1.13 = 0.51% V2O5 (this is just illustrative, the actual fusion re-assay result may vary significantly from the average). Within the check assay batch, black shale samples averaged 11% higher in grade and grey siltstones averaged 16% higher in grade. The Company is now proceeding with re-assay by the fusion method of all samples from Trenches 1 and 2 and also of the continuous rock chip sampling along the John Hart Highway road cut, and will report these results once received.

QA/QC, Qualified Person, and Contact

All prior samples were delivered to ALS Chemex in Kamloops and/or North Vancouver, British Columbia for analysis of select elements by ICP-MS analysis using 4 acid-digestion. As noted these check assays utilized lithium metaborate fusion analysis followed by acid dissolution. Quality control entailed insertion of company standards, blanks, and duplicates into the trench sample stream. In addition, ALS Chemex routinely inserted blanks and standards into the sample stream at the assay laboratory. All reported standard and blank assay values, as well as duplicates were within an acceptable margin of error. Work at Pine Pass is being supervised by Jo Price, M.Sc., MBA, P.Geo, VP Exploration of the Company. She is a Qualified Person as defined under National Instrument 43-101 and has read and approved this release.

For additional information please contact Craig Roberts at 604-682-4750 or view the Company’s website, www.ethosgold.com.

Ethos Gold Corp.

Per: “Craig Roberts
Craig Roberts P.Eng., Interim President & CEO

Forward-Looking Statement Cautions:

This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other governmental clearances, necessary to carry out the Company’s exploration plans, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Petroteq Energy 2018 Year-End Review

Sherman Oaks, California–(Newsfile Corp. – December 13, 2018) –  Petroteq Energy Inc. (TSXV: PQE) (OTC Pink: PQEFF) (FSE: PQCF) (“Petroteq” or the “Company“), a fully integrated oil and gas company with production assets in the Asphalt Ridge region of Vernal, Utah, is pleased to provide a 2018 year-end operations and strategic update:

Dear Shareholders,

As we begin to close out 2018, and 2019 fast approaches, I’d like to take this opportunity to reflect on Petroteq’s progress in 2018 and provide insight into our near-term strategy and goals for the Company. Developed specifically for our patented, environmentally friendly clean oil recovery technology and production process, our Vernal, Utah facility was successfully relocated, reconstructed and restarted earlier this year. The move, executed within only 8 months, allowed us to expand the facility’s capacity, currently designed to produce at a rate of 1,000 barrels per day (bpd).

Commodity Volatility Mitigation

We believe that the recent volatility of global commodity prices has been a cause for concern to conventional oil producers subject to high production costs. However, Petroteq’s state of the art technology and process, with production costs of only approximately US$30/barrel, significantly mitigates those concerns and supports healthy margins despite prevailing market conditions. Furthermore, upon receipt of the necessary capital, the Company intends to expand the Vernal facility beyond the current capacity of 1,000 bpd. We firmly believe that Petroteq is squarely on the right path to accessing and producing from the majority of Asphalt Ridge’s 87.495 million barrels of contingent resource, details of which are available in a report titled “Evaluation of Contingent Resources” from Chapman Petroleum Engineering, Ltd. dated May 31, 2018 (the “Chapman Report”). Such contingencies are stated below.

Share Consolidation Vote

Petroteq’s board recently brought the matter of a 1 for 10 consolidation of the Company’s common shares to a shareholder vote, a necessary corporate action for Petroteq in order to reach a minimum share price requirement for listing on the NASDAQ Capital Market. Shareholders overwhelmingly approved the measure, however, the board has resolved that the Company will not use a consolidation ratio beyond 1 for 5. The Company intends to engage a transparent and cautious methodology to the proposed NASDAQ listing with the belief that, given the recently achieved and the anticipated milestones, it may meet the requirements for a NASDAQ listing without corporate intervention. Acceptance for listing Company shares is subject to approval, in part, based on the Company’s ability to meet minimum listing requirements for the NASDAQ Capital Market. While Petroteq intends to satisfy all of the applicable listing criteria, no assurance can be given that its application will be approved.

Operational Growth

The Company continues to work towards a goal of running multiple operational facilities, with larger production capacities and expanded licensing opportunities for its technology, including the potential deployment of this technology for soil remediation and reclamation of environmental hydrocarbons. We will approach these other potential value-add projects through licensing, joint ventures and other such structures, always being focused on minimizing capital expenditures and maximizing the creation of shareholder value. In 2019, we will move the Vernal facility into Phase 2 of its lifecycle, during which we plan to increase production capacity from 1,000 bpd to 4,000 bpd by the end of the year. Civil construction of the additional process train will commence in the second quarter of the year, with the expansion estimated to come online by the third quarter. We will demonstrate an increased focus on production in the third quarter as the process trains ramp up to 4,000 bpd through tandem operations.

Commitment to Shareholder Value

As we execute on our strategy and share our vision for the future, we remain committed to achieving each of the Company’s deliverables and will keep our shareholders informed throughout. Our plan is designed to ensure we constantly strive to become a more focused and efficient company. As the Company grows, we will focus our asset base to achieve consistent, incremental production and will follow a disciplined capital allocation process with the intention of reducing our costs. We believe this approach will enhance our Company’s sustainability and returns for its shareholders.

At this critical juncture in Petroteq’s corporate development, I look forward to working alongside our board of directors, management and on-site operational teams as we execute our plan and strategy.

For a comprehensive view of our goals and direction, please visit our website: www.petroteq.energy

We will continue to communicate with our shareholders regularly and look forward to sharing new developments soon.

On behalf of everyone at Petroteq Energy, I would like to wish you all a safe and happy holiday and a prosperous and safe 2019.

Best regards,

David Sealock, CEO

About Petroteq Energy Inc.

Petroteq is a fully integrated oil and gas company focused on the development and implementation of a new proprietary technology for oil extraction. The Company has an environmentally safe and sustainable technology for the extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. Petroteq is engaged in the development and implementation of its patented environmentally friendly heavy oil processing and extraction technologies. Our proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. In addition, the Company, through its wholly owned subsidiary, PetroBLOQ, LLC, is seeking to develop the first blockchain based platform created exclusively for the supply chain needs of the oil & gas sector. For more information, visit www.Petroteq.energy and PetroBLOQ.com.

Forward-Looking Statements

Certain statements contained in this press release contain forward-looking statements within the meaning of the U.S. and Canadian securities laws. Words such as “may,” “would,” “could,” “should,” “potential,” “will,” “seek,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” and similar expressions as they relate to the Company, including: including the production capacity of the plant and when it may be achieved; completion of the consolidation; listing on Nasdaq; the Company having multiple facilities, larger production capacities, and licensing opportunities for its technology, including potentially using its technology for soil remediation and reclamation of environmental hydrocarbons; the structures used in any successful licensing opportunities; licensing opportunities creating shareholder value; the Company becoming a more efficient company with a stronger balance sheet; the Company achieving consistent production; the Company reducing costs; and the Company successfully developing blockchain technology for the oil and gas industry and the anticipated benefits of such technology, are intended to identify forward-looking information. Readers are cautioned that there is no certainty that it will be commercially viable to produce any portion of the resources. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company’s current views and intentions with respect to future events, based on information available to the Company, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including: the contingencies in the Chapman Report being overcome; regulatory/stock exchange approval of the consolidation; the Company meeting all of the listing requirements of Nasdaq; Nasdaq approving the listing of the common shares, and PetroBLOQ successfully developing and implementing a blockchain-based supply chain management system. While forward-looking statements are based on data, assumptions and analyses that the Company believes are reasonable under the circumstances, whether actual results, performance or developments will meet the Company’s expectations and predictions depends on a number of risks and uncertainties that could cause the actual results, performance and financial condition of the Company to differ materially from its expectations. Petroteq’s proprietary solvent based extraction technology is unproven to produce on a commercial basis at 1,000/bpd. Commercial production of 1,000/bpd at its existing plant is unproven and expansion at the existing plant or a new larger plant is subject to financing, development and testing to prove it is achievable and commercial. Certain of the “risk factors” that could cause actual results to differ materially from the Company’s forward-looking statements in this press release include, without limitation: uncertainties inherent in the estimation of resources including whether any reserves will ever be attributed to the Company’s properties; since the Company’s extraction technology is proprietary, not widely used in the industry, and has not been used in consistent commercial production, the Company’s bitumen resources are classified as a contingent resource, because they are not currently considered to be commercially recoverable; full scale commercial production may engender public opposition; the Company cannot be certain that the bitumen resources will be economically producible and thus cannot be classified as proved or probable reserves in accordance with applicable securities laws; PetroBLOQ not having the expertise and/or funds necessary to develop and implement a blockchain-based supply chain management system; PetroBLOQ not being able to develop the blockchain technology to completion; blockchain technology not being adopted by the oil and gas industry; changes in laws or regulations; the ability to implement business strategies or to pursue business opportunities, whether for economic or other reasons; status of the world oil markets, oil prices and price volatility; oil pricing; state of capital markets and ability by the Company to raise capital; litigation; the commercial and economic viability of the Company’s oil sands hydrocarbon extraction technology, and other proprietary technologies developed or licensed by the Company or its subsidiaries, which are of experimental nature and have not been used at full capacity for an extended period of time; reliance on suppliers, contractors, consultants and key personnel; the ability of the Company to maintain its mineral lease holdings; potential failure of the Company’s business plans or model; the nature of oil and gas production and oil sands mining, extraction and production; uncertainties in exploration and drilling for oil, gas and other hydrocarbon-bearing substances; unanticipated costs and expenses, availability of financing and other capital; potential damage to or destruction of property, loss of life and environmental damage; risks associated with compliance with environmental protection laws and regulations; uninsurable or uninsured risks; potential conflicts of interest of officers and directors; and other general economic, market and business conditions and factors, including the risk factors discussed or referred to in the Company’s disclosure documents, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.

Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

Pursuant to the Chapman Report, the following is a summary of contingencies and project risk related to the Company’s 93.4 million barrels of contingent resource, listed in order of importance: (i) Verification of actual full scale processing and operating costs. Although the Company has developed detailed estimates of these costs by operating the pilot plant, they will need to implement the full scale project in order to know these costs with certainty. Chapman has estimated a 90% probability that operating costs will be in the ranges estimated in the monte carlo simulation, as documented in our September 1, 2016 report. The simulation indicates that there is a 97.5% likelihood of having an economic project if costs are in those ranges. Therefore, the probability of this contingency being overcome (i.e. operating costs are in the range estimated by Chapman) is estimated at 88%; (ii) Mining costs will be similar on all Company lands. Detailed mining cost estimates have only been prepared for the first 12.8 MMSTB of bitumen to be mined, but it is anticipated that the bitumen volumes could be scaled up at a similar cost. The probability of this contingency being overcome (i.e. all actual mining costs being in line with initial estimates) is estimated at 95%; and (iii) Regulatory permission will be granted for all future stages. This is seen as very likely, and there are no major regulatory hurdles remaining to overcome. However, there is potential for public opposition to a project of this nature. The probability of this contingency being overcome (i.e. all future regulatory approvals being granted) is estimated at 98%. Chapman has estimated that it is 81.9% likely that all of the above contingencies will be overcome.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Petroteq Energy Inc.
Alex Blyumkin
Executive Chairman & Founder
(800) 979-1897

CVR Medical Provides TUV Safety Testing Update

Denver, North Carolina–(Newsfile Corp. – December 13, 2018) – CVR Medical Corp. (TSXV: CVM) (OTCQB: CRRVF) (“CVR Medical”), a Canadian listed and US based healthcare company in the medical device sector announces that its patented, disruptive Carotid Stenotic Scan (CSS) has passed the IEC 60601-1-2 edition 4, General Requirements for Basic Safety and Essential Performance – Electromagnetic Disturbances conducted by TUV Rheinland of North America. TUV Rheinland of North America, is one of the leading providers of product safety certifications worldwide, covering an assortment of items such as medical devices, home appliances, audio/video products, medical products, textiles and telecommunication equipment. This testing is required for the CSS’s subsequent De Novo submission to the FDA for US market clearance and will show that the device is compliant with all IEC 60601-1-2 EMC requirements. The International Electrotechnical Commission (IEC), based in Geneva, Switzerland, publishes the 60601 series of technical standards that allow medical device developers to demonstrate the safety and essential performance of their medical equipment. Upon completion of EMC testing, TUV North America started IEC 60601-1 safety testing which includes, software and hardware validation, fire and electrical safety and mechanical failure. As announced, CVR’s previous guidance relating to FDA submission remains unchanged for Q1 2019.

In speaking to CVR’s VP of Program Management & Product Development, Lewis Crenshaw, the TUV engineer stated “CVR’s team did a tremendous job preparing documentation and hardware for IEC 60601-1-2 EMC safety testing. This allowed the TUV team to quickly and efficiently tackle the testing, review technical documents and draft and sign the EMC test report during the busiest time of our year.”

Tony Robinson, CVR Medical’s Chief Operating Officer stated, “This represents one of the final hurdles standing between CVR and the FDA submission that we have been working so diligently towards. Many companies are significantly delayed by requirements such as EMC, but thanks to the thoroughness of the CVR engineering team and open dialogue which TUV provided, we have been able to maintain our momentum toward our objectives. Working with TUV has been the epitome of efficiency and effectiveness, even during this extraordinarily busy time. We know that when our CSS device is placed into the clinical setting we are holding ourselves to the industry’s highest standard of electrical safety.”

About CVR Medical

CVR Medical Corp. is a healthcare company that operates in the medical device industry focused on the commercialization of its disruptive, proprietary Carotid Stenotic Scan (CSS). The CSS device is a diagnostic tool that encompasses subsonic, infrasonic, and low frequency sound wave analysis technology. The CSS is a patented device designed to detect and measure carotid arterial stenosis. CVR is currently in pivotal clinical trials in preparation for its planned submission to the FDA. CVR is led by an experienced and proven team of professionals with extensive healthcare, medical device, international expansion, regulatory and sales experience. CVR Medical trades on the TSX Venture Exchange under the symbol CVM. Additional information regarding the Company can be found in our recent filings with the SEDAR as well as the information maintained on our website at www.cvrmed.com

ON BEHALF OF THE BOARD:
(signed) “Peter Bakema”
CEO, President & Chairman

For further information contact:
Peter Bakema, CEO, President and Chairman
Email: info@cvrmed.com
or
Marc S. Lubow
Vice President Capital Markets, Director Investor Relations
904-923-4037
marclubow@cvrmed.com

This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to the Joint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Ridgestone Mining Inc. Completes Drill Program On Its Rebeico Gold-Copper Project, Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – December 13, 2018) – Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) (“Ridgestone Mining”) announces that it has received partial results from a recently completed 12 hole, 1,430 meter diamond drill program at its Rebeico gold-copper project located within the prolific Sierra Madre gold belt, Sonora, Mexico

The program was designed to test for gold and copper mineralization beneath historical underground workings located along a 500 meter portion of the “Alaska” vein which can be traced at surface for approximately 1.2 kilometers in a north-south direction.

Drill holes 18REB1 and 18REB2 were collared at the same location and drilled at angles of -50 and -65 degrees respectively. Hole 18REB1 intersected old workings, presumably where the vein had been previously mined out, and was halted at 121.7 meters.

Drill holes 18REB3 and 18REB4 were both collared about 415 meters south of holes 18REB1 & 2, and were drilled at angles of -50 and -60 degrees respectively. Hole 18REB3 encountered an intensely fractured fault zone and was abandoned before reaching the targeted depth.

Highlights of the assay results are summarized below:

Hole ID From
(m)
To
(m)
Interval
(m)
Au
g/t
Cu
%
18REB1 116.03 116.65 0.62 1.02 0.96
120.90 121.70 0.80 2.95 1.41
18REB2 127.0 128.0 1.00 7.87 1.87
128.0 129.0 1.00 9.51 3.69
18REB4 73.8 75.2 1.40 3.25 trace
76.5 78.0 1.50 1.39 trace

 

Hole 18REB4 also contained elevated bismuth (>90 ppm) associated with the gold mineralization. This may be indicative of a high-temperature, intrusion-related style of mineralization potentially proximal to a copper-gold porphyry or iron-oxide copper-gold (“IOCG”) system.

Although exploration at Rebeico is at a very early stage, the gold and copper values encountered in these first drill holes indicate that mineralization extends beneath the shallow historical workings and down-dip along the Alaska vein. The gold values received from hole 18REB4, drilled more than 400 meters south of holes 18REB1 & 2, also indicate that subsurface mineralization extends a significant distance along strike. Results from the remaining 8 drill holes will be released when assays have been received and evaluated.

The Rebeico drilling program was managed by Ridgestone’s partner, YQ Gold S.A. de C.V. Drill core was transported by YQ Gold personnel from the drill sites to a secure logging and sample storage area on a daily basis. After logging by YQ Gold geologists, intervals selected for sampling were sawed in half lengthwise. The ½-core samples were placed in pre-numbered sample bags and weighed. Blank samples were inserted into the sample stream for Quality Assurance / Quality Control (“QA/QC”) purposes. YQ Gold personnel transported the samples to the ALS Minerals (“ALS”) preparation laboratory in Hermosillo, Sonora. After preparation, sample pulps were air-freighted by ALS to their assay laboratory in North Vancouver, British Columbia. Gold was determined by fire-assay fusion with an atomic absorption finish. Silver and 31 major, minor and trace elements were determined by ICP-AES following 4-acid digestion.

The technical information disclosed in this news release has been reviewed and approved by Steven I. Weiss, C.P.G., Ph.D., and consulting geologist for Ridgestone. Mr. Weiss is a Qualified Person under NI 43-101 and the author of the technical report filed on SEDAR titled “NI 43-101 Technical Report on the Rebeico Gold-Copper Project; Central Sonora, Mexico”.

About Ridgestone Mining Inc.

Ridgestone is a TSX Venture Exchange-listed junior mineral exploration company with offices in Taipei and Vancouver, B.C. The Company’s focus is on precious metals and copper in Sonora, Mexico, and specifically the Rebeico Gold-Copper project.

For further information, please contact:

Ron Birch, Director
Ridgestone Mining Inc.
Telephone: 1-800-910-7711

This news release contains forward-looking statements or information (collectively referred to herein as “forward-looking statements”). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. In this news release such statements include but are not limited to the preparation of a definitive agreement and the requirement of TSX Venture Exchange approval therefor. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including those described in the Company’s Prospectus dated February 9, 2018 available on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company’s course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Nicola Mining Announces Positive Field Sampling and IP Survey Results

Vancouver, British Columbia–(Newsfile Corp. – December 13, 2018) – Nicola Mining Inc. (TSXV: NIM), (the “Company” or “Nicola“) is pleased to announce positive field reconnaissance and grab sampling results (“Sampling Program“) along with the completion and interpretation of an induced polarization survey (“IP survey“). The IP Survey and Sampling Program are part of the Company’s 2018 Exploration Program at its wholly-owned New Craigmont project, as explained in its May 1, 2018 news release. The permitted mine project is located on the historic Craigmont Copper Mine, located approximately 15 km from Merritt, British Columbia.

The IP Survey totaled 8.55 line-kilometers over two areas of interest while the Sampling Program focused on historic showings exhibiting porphyritic characteristics within the northern portion of the property.

Marb Zone Field Sampling

Field reconnaissance and grab sampling focused on the historical MARB showing to review outcrop exposure and validate previously sampled outcrops. A total of 5 samples at the MARB Zone were collected with the results summarized in Table 1.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4873/41630_10e80adc74252af8_001.jpg

Table 1. 2018 Grab Samples with Assays

To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/4873/41630_10e80adc74252af8_001full.jpg

* Datum-NAD 83 UTM Zone 10N
** The Company is currently in the process of confirming ratios of magnetite and hematite as part of iron composition on the property. In addition to recovery ratios of the copper, magnetite and hematite, Nicola is reviewing the potential use of magnetic conveyor systems to upgrade material.

Key takeaways of the grab samples are the following:

  • The MARB showing has elevated copper grades within favourable intrusive host-rock for a porphyry system.
  • Sample ID 1446404 occurred within basalt lithology (extrusive) while the others were all diorite (intrusive).

Follow-up detailed outcrop mapping plus potential drilling and IP will be planned for 2019 to further explore the MARB showing.

Induced Polarization Survey

A ground IP survey, which captured chargeability, resistivity and magnetic data was designed in 2 parts: as a westward continuation of the 2017 lines over Craigmont West (Embayment and Titan Queen) testing an interpreted increase in chargeability to the west; and second, over a magnetic-high at North Promontory (MARB) that has outcrop exposure with visible surface mineralization and elevated copper assays.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4873/41630_10e80adc74252af8_002.jpg

Table 2. IP Survey Line Details

To view an enhanced version of Table 2, please visit:
https://orders.newsfilecorp.com/files/4873/41630_10e80adc74252af8_002full.jpg

North Promontory

Three North-South lines, totalling 4950 meters were surveyed over an area of elevated magnetics, and where samples have been collected from surface (as recently as 2018) with assay values of up to 1.7% Copper.

The intent of the survey was to identify whether the magnetic anomaly and associated elevated copper grades in grab samples are related to an undiscovered porphyry system. An inversion of the data was completed by Dr. Jules Lajoie, P. Eng, who interpreted that although the chargeability values begin to increase to the east, the chargeability amplitudes are relatively low, approximately 8mV/V, likely representative of the Guichon diorite border phase, which correlates with mapped outcrop and magnetic data. In summary, there is no significant anomaly resulting from this portion of the survey.

Craigmont West

Two north-south lines, totalling 3600 meters were surveyed at Craigmont West as a westward step-out from the lines surveyed in 2017. The inversion plot identified a weak chargeability response at the south end of the lines, which was anticipated to increase toward the west in association with a mag-low in the area, however it was found to weaken on the westernmost line. There is however the potential to pick the chargeability response back up further to the south, which would require extending some of the existing lines further south. This will be considered a potential option for 2019.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4873/41630_10e80adc74252af8_003.jpg


Figure 1. 2018 IP lines and grab sample locations with 2017 IP lines and Total Magnetic Intensity

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4873/41630_10e80adc74252af8_003full.jpg

Scientific and Technical Information

All information of a scientific or technical nature contained in this document, including sampling, analytical and test data has been reviewed and approved by Kevin Wells, P. Geo., a consulting Geologist to Nicola Mining. Wells is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Sample Preparation, Analysis and Quality Assurance/Quality Control

Nicola Mining applies a thorough quality assurance/quality control program at the New Craigmont Project compliant with industry best practices. A qualified geoscientist has logged and sampled all core and samples have been delimited according to lithologic, alteration and mineralization characteristics. This includes systematic insertion of blank, duplicate and certified reference materials into the sample batches by Nicola’s geological staff. Core is then halved, where the sample is placed in a labelled sample bag with sample tag and the other half of the core is retained on site as a physical record. Samples are placed in sealed bags and transported to Actlabs (ISO 17025 Certified) in Kamloops, British Columbia for analysis, following a Chain of Custody. Samples are crushed up to 80% passing 2mm, rifle split (250 g) and pulverized to 95% passing 105 µm. Samples are analyzed using Aqua Regia-ICP-OES 38-element (1E3) packages. All samples greater than 10,000 ppm Copper are tested using over-limit mass spectrometry methods (8-AR). All results included in this release have passed the QA/QC procedures as described above and have been reviewed by Kevin Wells, P.Geo. There are no known factors that could materially affect the reliability of data collected and verified. No quality assurance/quality control issues have been identified to date.

About Nicola Mining

Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange and is in the process of recommencing mill feed processing operations at its 100% owned state-of-the-art mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold producers. The fully-permitted mill can process both gold and silver mill feed via gravity and flotation processes. The Company also owns 100% of Treasure Mountain, a high-grade silver property, and an active gravel pit that is located adjacent to its milling operations.

About New Craigmont

The New Craigmont Project (the “Property“) is a wholly-owned copper property with an active mine permit (M-68), located within the world-class Highland Valley porphyry district. It benefits from excellent infrastructure. The Property is at the corner intersection of the Nicola and Guichon batholiths, of which the latter is the precursor to mineralization at Highland Valley. In November of 2015, Nicola became the first group in decades to consolidate ownership of the Property and has been actively conducting mineral exploration since.

There are currently no mineral resource estimates on the Property. Historical “non-NI 43-101” resource calculations are recorded in internal memos and geological reports for Placer Development. An internal memo written by J.F. Bristow on October 30, 1985 to Craigmont Mines Ltd. reported a zone known as Body No. 3 containing a historic estimate of 1,290,000 tons (1,170,268 metric tonnes) of copper grading 1.53% copper. This estimate assumes a 0.7% copper cut-off and a 20-foot mining width between drill sections 6565E and 8015E. The material in Body No. 3 contains mineralization primarily in silicate-rich rocks.

Additionally, J.F. Bristow reported in an internal memo on July 22, 1985 to Craigmont Mines Ltd., a rough calculation of 60,000,000 pounds (1.6 million short tons or 1.45 metric tonnes) of +1.5% copper from an original ore estimate of 27,754,000 short tons (25,178,005 metric tonnes) of copper grading 1.79% copper left behind in the sub-level cave. In addition, the Bristow report highlights a 50.0 million tonne halo grading greater than 0.4% surrounding the high-grade underground ore body.

It should be noted that these historical estimates do not meet the requirements needed to conform to National Instrument 43-101 standards. The Company notes that an independent Qualified Person has not done sufficient work to verify and classify the historical estimates as current mineral resources and is therefore not treating the historical estimates as current mineral resources or mineral reserves. For further details on the Property, see the technical report entitled “TECHNICAL REPORT on the THULE COPPER – IRONPROPERTY, Southern British Columbia, Canada”, filed on May 8, 2013 on Sedar at http://www.sedar.com.

On behalf of the Board of Directors

Peter Espig
Peter Espig
CEO & Director

For additional information

Contact:
Peter Espig
Phone: (778) 385-1213
Email: info@nicolamining.com

Neither the TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER FOR FORWARD-LOOKING INFORMATION

All statements in this release, other than statements of historical fact, are “forward-looking information” within the meaning of applicable Canadian securities laws, including statements that address future exploration and drilling plans, including with respect to the 2018 DD Program; the expected information to be derived therefrom; and potential mineralization. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to differ materially from those anticipated in such forward-looking information. Such factors include, among others: changes in 2018 DD Program parameters as plans continue to be refined; risks related to the interpretation and actual results of historical exploration at the Property; reliance on technical information provided by third parties, including access to historical information on the Property; current exploration and development activities; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; and delays in obtaining governmental approvals, financing or in the completion of exploration. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is provided as of the date hereof and accordingly is subject to change after such date. The Company does not undertake to update any forward-looking information included in this news release, except as required by applicable securities laws.

Pacific Ridge Confirms Porphyry Copper Target at Spius Project; Drilling Planned for 2019

Vancouver, British Columbia–(Newsfile Corp. – December 13, 2018) – Pacific Ridge Exploration Ltd. (TSXV: PEX) (“Pacific Ridge” or the “Company”) reports on the results of an Induced Polarization (“IP”) geophysical survey and soil geochemical survey on its road accessible Spius copper porphyry prospect located 40 km southwest of Merritt, British Columbia.

The soil survey confirmed earlier sampling results and defined a central copper soil anomaly, 900 m by 750 m and open to the south, ranging from 100 ppm to plus 4,000 ppm Cu. The IP survey confirmed and expanded an earlier survey from the 1960’s, providing greater detail and depth penetration and defining a horseshoe-shaped, high chargeability anomaly that envelopes the copper soil anomaly. The chargeability anomaly is believed to represent the pyritic halo of a porphyry copper system, surrounding a copper mineralized shell or core zone.

Permits are in place for a core drilling program which is planned for the 2019 field season.

The Spius property was explored for its porphyry potential in the 1960’s and early 1970’s. Exploration focused on a gossan area where work included an IP survey, trenching and 27 percussion and core drill holes. The drilling was shallow, with none of the drill holes exceeding 100 m. Drill logs and assay results have been lost. However, a 1969 assessment report noted that hole 2, of a 5-hole drill program, ended in 8 feet (191 to 199 ft.) of 0.4% Cu. This hole is located on the inner edge of the interpreted pyrite halo and on the edge of the copper soil anomaly. Two recently collected float samples of porphyry style mineralization with disseminated pyrite and chalcopyrite assayed 2.53% Cu and 1.43% Cu. The Company believes that the original gossan area and IP anomaly are the pyritic halo to a potential core copper zone, as reflected by the soil copper anomaly and mineralized float.

About Pacific Ridge

Pacific Ridge has assembled a portfolio of highly-prospective gold and base metal projects located in the Yukon and British Columbia, where its board and management team have a track record of success. Its holdings include the Mariposa, Eureka Dome and Gold Cap gold exploration projects in the Klondike-White Gold District, RC Gold in the Tintina Gold Belt, Fyre Lake in the Finlayson District and Spius Cu-Mo-Au porphyry and TL Zinc in southern British Columbia.

On behalf of the Board of Directors,

Gerald G. Carlson

Gerald G. Carlson
President & CEO
Pacific Ridge Exploration Ltd.

For further information, contact:
Pacific Ridge Exploration Ltd.
Gerald G. Carlson
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D., P.Eng., President and CEO of Pacific Ridge and Qualified Person as defined by National Instrument 43-101 policy.

Forward-Looking Information: This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address exploration drilling and other activities and events or developments that Pacific Ridge Exploration Ltd. (“Pacific Ridge”) expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding the exercise of the options and future exploration plans and expenditures. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge’s proposed programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.